FAQs

If the owners of bearer shares of a grandfathered bearer share company failed to deposit them with a custodian or to convert them to or exchange them for registered shares before 31 December, 2009 what options are now available?

The Act provides a clear solution under paragraph 35(4) of Division 5 of Part IV of Schedule 2 (Schedule 2). The company or a person interested in the bearer share may apply to the Court to extend the transition date. The Court hearing the application may extend the transition date by such further period or periods not exceeding one year in total as it considers fit.